Popular Frequently Asked Questions

See all of our FAQ help points

How will I use my Desired Annual Income?

You will use your Desired Annual Income to pay for your fixed and variable expenses and what is left is your disposable income that you can spend or save as you wish.

Under ISAs why does it show separate rates for growth and income?

Some stocks and shares ISAs are designed to distribute income and if you choose not to take the income it is reinvested back into the ISA. The ISA may, therefore, increase in value by the reinvested income and by any increase in the valuation of the share/stock holdings that make up the ISA.

How do I know what to expect to draw annually from a pension plan?

If you are unsure what level of annuity rate to specify for one or more of your pension plans you can seek advice from your financial adviser or you can view current annuity rates from the Government website moneyadviceservice.org.uk.  It is important to note that future annuity rates may be quite different from the level of annuity rates available today.

What are 'Liquid Assets'

In Lifeplan 'Liquid Assets' are Cash, Current Accounts, Deposits and those assets that can be encashed in small amounts at short notice e.g. National Savings, ISAs, Shares, Unit Trusts, Investment Funds. They exclude assets which can only be sold whole or where encashment rights are limited e.g. Home, Pension Fund, Property and Business Investments.

Why is there no end date for credit cards and repayment loans.

LifePlan will estimate when your credit card balance and/or repayment loan will be repaid from your current balance, interest rate and expected monthly payments.